Pro14 Rugby has agreed a reported €140 million deal to sell a huge stake of the company to an Italian firm.

The Guinness Pro14 on Friday confirmed that it has entered into partnership with CVC Capital Partners, which has taken up a 28% share of Pro14 Rugby.

The deal, reportedly worth €140 million when it was agreed last year, sees the company take its share Celtic Rugby DAC, with the participating European unions owning the remaining 72%.

The Leinster rugby team celebrate with the cup after the Guinness PRO14 Final match between Leinster and Glasgow Warriors at Celtic Park in Glasgow, Scotland. Pic: Ramsey Cardy/Sportsfile

As part of the agreement, Italy’s union (FIR) has also become a member of Celtic Rugby DAC after a decade of participation in the tournament.

A statement said: ‘The partnership commitment will allow both Pro14 Rugby and the Irish, Italian, Scottish and Welsh rugby unions to continue to invest in the sport, both professional and amateur, to achieve its potential over the long term.

‘A portion of the investment will also be held centrally at Pro14 Rugby, for the Board to invest in further capabilities for the business and in upgrading league operations in line with its growth ambitions.

As part of the agreement, Italy’s union (FIR) has also become a member of Celtic Rugby DAC after a decade of participation in the tournament. Pic: INPHO/Bryan Keane

‘As part of this agreement, the Federazione Italiana Rugby (FIR), will also become a member of Celtic Rugby DAC, and receive a share of the investment.

‘Martin Anayi, CEO, will continue to lead the management team at Pro14 Rugby, working closely with CVC and the unions on execution of the commercial plan.

‘The unions will also remain independently responsible for the sporting and regulatory elements of the league, via the Sporting & Regulatory Committee.’

In 2018, CVC acquired a 27% stake in Premiership Rugby, England’s top flight league, and has been linked with a major investment to take hold of 14% of the Six Nations.

Dana White and Conor McGregor share a tremendous relationship, which was evident in the 50-year-old's reaction to his top star's retirement. The Irishman is without doubt the biggest superstar ever to emerge from the sport...